Coca-Cola Enterprises Profits Match Expectations

Published by: Mike Goldman on 11th Feb 2011 | View all blogs by Mike Goldman
coca-cola ent logo.jpg
Coca-Cola Enterprises Profits Match Expectations

Coca-Cola Enterprises reported fourth-quarter results on Friday, posting a gain in profits that matched analysts' estimates thanks to higher sales and price increases.  The company also reaffirmed its previously reported outlook for full year earnings in 2011.

The company's net income for last quarter, it reported, rose to $97 million, compared to just $91 million in the fourth quarter of 2009.  Per share earnings were reported as 28 cents, matching the average estimate of economists in a recent Thomson Reuters poll.

The company sold its North American bottling operations to Coca-Cola, its primary supplier, back in October, and now bottles and distributes Coke products in Europe independently.  Sales for the company climbed 12 percent during 2010's final quarter to $1.79 billion, with a 4 percent rise in volume and a 1 percent increase in net per case pricing.  The company also stood by its previously reported forecast for 2011 full year earnings of $1.95 to $2.00 a share.

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